Advisers looking beyond 'safe havens'

New research indicates financial advisers are looking “further afield” than traditional “safe havens” in their recommendations to clients, according to Skaffold.

A statement from the financial research technology provider said new data suggests “long-standing faith” in stalwart shares may at last be declining among advisers.

Over the past 11 months, the research behaviour of more than 100 advisers was analysed by Skaffold and data collected.

In April 2013, banks and resources formed the top seven out of the top 10 most researched stocks by advisers, compared to March 2014, when services formed the top four researched stocks and five of the top 10, according to Skaffold.

An analysis of the latest user data showed financial advisers are no longer focused mainly on traditional mining and banking stocks and are instead looking at service industries, Skaffold said.

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Skaffold general manager Chris Batchelor said Australian investors have relied upon banks and resource industries for growth.

“However, this change in behavior with advisers signals that Australian investors are looking further afield, reflecting an increased level of sophistication,” he said.

“Banks and miners have been the core of Australians share portfolios for many years; however, with many analysts now saying the mining boom is over and that banking growth is likely to be flat, it’s pleasing to see that advisers are getting more diversified in their stock research,” he added.